Buy or sell: Sumeet Bagadia recommends three stocks to buy next week
Buy or sell stock: Following strong global cues, Indian stock market reversed the trend on Friday and ended higher. All key benchmark indices logged handsome gains but broad market indices failed to outperform key benchmark indices. NSE Nifty gained 181 points and closed at 19,435 levels, BSE Sensex surged 555 points and ended at 65,387 mark while Bank Nifty index went up 446 points and finished at 44,436 levels.
In broad market, small-cap index and mid-cap index gained 0.75 per cent. Sumeet Bagadia, Executive Director at Choice Broking believes that Indian stock market sentiment has tuned positive after the massive gain registered on Friday. The Choice Broking expert went on to add that Dalal Street trend may go further upside once the Nifty index breaches its immediate hurdle placed at 19,550 to 19,600 zone.
On stocks to buy next week, Sumeet Bagadia recommended three stocks for next week and those shares are Persistent Systems, Bajaj Finance and NTPC. Here we list out full details in regard to Sumeet Bagadia's stock picks: 1] Bajaj Finance: Buy at ₹7320, target ₹7575, stop loss ₹7150. Bajaj Finance share has a strong support range between ₹7170 and ₹7190 which is also close to 50 and 20 Day EMA levels.
The stock has recovered from its support levels and is now trading near ₹7320.60. The RSI indicator is also comfortably trading near 57 levels, indicating strength. The stock has taken support from the middle band and is approaching the upper band, which could be a small resistance near 7360.
Once the stock exceeds the previously mentioned levels, it may move towards the ₹7575 level and above. Currently stock is trading above all the important moving averages indicating strength. Based on the above mentioned technical
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